Posted on 11/27/2021 2:07:11 PM PST by DoughtyOne
A whole bunch of data about the economy was released Wednesday — a day early
because of Thanksgiving — and a lot of it was positive.
We learned that the Federal Reserve is bullish on the economy’s prospects
through the end of next year. In the minutes of the Open Market Committee
meeting earlier this month, the central bank’s staff predicts gross domestic
product will post “sizable” gains this year and next.
Some of Wednesday’s news was a downer — consumer confidence fell to its
lowest point in a decade, according to the University of Michigan. And the
personal consumption expenditures price index showed that inflation’s running
at 4.1%.
But a lot of other news was good: Household spending was up in October, and
first-time unemployment claims were just 199,000 — the lowest they’ve been
since the pandemic began.
But not just that. The Department of Labor noted that’s also the lowest they’ve
been since 1969.
“My first reaction is wow,” said Mark Hamrick, a senior economist at Bankrate.
Despite his own initial reaction, Hamrick said it’s also true that a single week
of unemployment numbers doesn’t really tell us all that much. Nor does comparing
today’s economy to the one way back then.
“The economy has obviously been massively transformed since 1969,” he said. “And
so this just tells you that it is not very often that we see a new jobless claims
number that has a one handle on it.”
Even though it is just one week of data — and could well be adjusted upward later —
it does fit into the big picture trend: (Paraphrased) Unemployed numbers are dropping.
(Excerpt) Read more at marketplace.org ...
I'm not buying that. I'm sure very few here are.
Then there's this from The Daily Mail on October 20th, 2021
"America is ALREADY in a recession that could be as bad
as 2008: Dartmouth College prof David Blanchflower warns
that the real state of the economy has been skewed by
Biden's huge unemployment payments"
Recall in Mullah Obama's day, this was an issue and they would fudge the unemployment numbers. Back then, the true unemployed rate was close to 17%.
It will be going up soon.
The vaccine force will be forcing many of us out of jobs and we might even claim unemployment. Just to mess with them. Many of us first time ever....first time ever fired.
Now give us the welfare and food stamp numbers. Record highs, especially when you include the illegal newcomers. Also, the labor participation rate is at an all time low. Add to that the people quitting and being fired over vax mandates are not allowed unemployment. And ya, the initial unemployment numbers make perfect sense.
Household spending is UP in October-—
GEEE-—PRICES on everything are UP-—So what kind of statistic is this???
I am NOT buying the “UNEMPLOYMENT numbers-—lowest in 50 years.
BS
I also will be interested to see how many "we're hiring" signs are still up after the holidays.
Let's wait and see what it is when all the data is in. It's not uncommon for these figures to get adjusted up or down.
The economy is doing so well, that I got cold called from an old Indeed resume to deliver packages for UPS.
This is a complete and utter fraud and manipulation of data by the marxist cabal surrounding Brandon in the WH.
Around here, you can’t find anyone to work. It’s impossible. Whole businesses have closed up. The marxists are printing money to give to people in the name of the so called pandemic so they are not turning in employment claims. This is yet another example of how stupid the WH marxist’s think we are.
Cause they are getting cut off and denied.
The more important number is the number of people out of work, not looking for work. Retirement, welfare, Cash only under the table guys, Contractors, You know those people,
The 1099 crowd.
Democrats keep making it so obnoxious to work in their system, will see that people will find a way around it.
This is good news. The folks who dare to not follow the edicts of their so- called betters will end up in the red states. They will prosper. The blue states they left will sink deeper into their self-dug cesspool.
Everyone gets what they want.
It’s time to start tracking labor participation rates. The unemployment rate means less, a LOT less, in the age of unending handouts, drug legalization, and insane labor regulations. How many people simply refuse to work, can’t work because of their addictions, or don’t bring enough to the table to be cost effective?
Big deal. All those unvaccinated people who are getting fired cannot file for unemployment.
Lying liars and the lies they tell. All BS. Unemployment down because there is no one left to apply.
and a lot of it was positive. bullsh## they play the numbers game and the media fawns over it
“But a lot of other news was good: Household spending was up in October, and
first-time unemployment claims were just 199,000 — the lowest they’ve been
since the pandemic began.”
More workers are discouraged and no longer actively seeking employment? Household spending was up because everything costs more?
Probably this is not being mentioned by the propaganda media.
Another big part of this is likely a LOT of people are no longer eligible for unemployment - They’ve used up everything in their account, as well as the FedGov bonus weeks, so now they CAN’T go on unemployment, at least not without getting several months of hours in actually working.
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